Nurix Therapeutics (NASDAQ:NRIX) Price Target Lowered to $35.00 at Stifel Nicolaus

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) had its target price decreased by analysts at Stifel Nicolaus from $36.00 to $35.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 270.76% from the company's current price.

A number of other analysts have also commented on the company. Morgan Stanley raised their price target on Nurix Therapeutics from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Leerink Partners began coverage on shares of Nurix Therapeutics in a research report on Monday, March 17th. They set a "market perform" rating and a $16.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of Nurix Therapeutics from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. BTIG Research initiated coverage on shares of Nurix Therapeutics in a research note on Tuesday, December 10th. They set a "buy" rating and a $35.00 target price for the company. Finally, Stephens reiterated an "overweight" rating and set a $31.00 price target on shares of Nurix Therapeutics in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $30.44.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX traded up $0.30 during trading on Wednesday, hitting $9.44. The stock had a trading volume of 360,184 shares, compared to its average volume of 895,631. The firm has a fifty day moving average of $14.03 and a two-hundred day moving average of $19.16. The company has a market capitalization of $719.67 million, a PE ratio of -3.27 and a beta of 2.23. Nurix Therapeutics has a 12 month low of $8.18 and a 12 month high of $29.56.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last issued its earnings results on Tuesday, April 8th. The company reported ($0.67) earnings per share for the quarter, topping analysts' consensus estimates of ($0.72) by $0.05. The firm had revenue of $18.45 million during the quarter, compared to analyst estimates of $12.78 million. Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. During the same quarter last year, the business earned ($0.76) earnings per share. On average, equities analysts expect that Nurix Therapeutics will post -2.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nurix Therapeutics news, CFO Houte Hans Van sold 5,825 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.49, for a total transaction of $84,404.25. Following the transaction, the chief financial officer now owns 33,724 shares in the company, valued at approximately $488,660.76. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gwenn Hansen sold 3,690 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total value of $73,246.50. Following the completion of the sale, the insider now directly owns 55,937 shares of the company's stock, valued at $1,110,349.45. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,326 shares of company stock worth $213,449 in the last 90 days. Company insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE grew its holdings in shares of Nurix Therapeutics by 144.7% in the 4th quarter. US Bancorp DE now owns 1,424 shares of the company's stock worth $27,000 after acquiring an additional 842 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Nurix Therapeutics in the fourth quarter valued at $28,000. Aquatic Capital Management LLC acquired a new position in shares of Nurix Therapeutics during the 4th quarter worth $87,000. Summit Investment Advisors Inc. boosted its position in shares of Nurix Therapeutics by 13.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company's stock worth $138,000 after buying an additional 877 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Nurix Therapeutics in the 4th quarter valued at about $164,000.

About Nurix Therapeutics

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.